Buying a house is something almost everyone aspires to do. But in 2016, home ownership in England fell to its lowest level in 30 years – highlighting how difficult it can be to get on the property ladder. Saving up a deposit, finding somewhere suitable, and buying the property for a reasonable price are all challenges people face when house hunting.
Buying property is particularly problematic for young people, as the number of 25-to-34-year-olds owning their own home has plunged by a third since 2011. Whatever stage of the property ladder you’re at, buying a house can throw up problems. Most people find themselves part of a chain which relies on a sequence of linked house purchases running smoothly. If any of them fall through, the chain is broken and it causes delays for all involved. It can be stressful and emotional, but there are few feelings that compare to buying your first house. It’s just a matter of educating yourself so you know what to expect, and how best to prepare.
This guide will outline the key stages of buying property, including expert advice for first-time buyers and those looking to move up the property ladder.